Listing photoDetroit, MI 48214 · MLS 61038478
"Needs a roof and a full renovation."
2985 Fischer St is a 3-bedroom, 1-bath home in Detroit, Michigan listed at $99,000 with 1,923 square feet, built in 1914. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with 1 to 2 completed projects and a 740 score puts 20% down ($19,800), we fund the $211,530 renovation estimate in draws, and the loan closes in 2 weeks. The down payment steps with experience, credit and the size of the renovation. See every hard money opportunity in Michigan or our Michigan hard money lending page.
From the listing. Excellent renovation opportunity - This home has great bones, with original wood floors, unpainted trim, coffered ceilings and oak wainscoting. Ducted heat system and high ceiling height in the basement. Needs a roof and a full renovation. One block from Indian Village and part of the blossoming East Village district. Three bedrooms and one bath. Cash/hard money only. More photos available.
Preset with the list price and our rough renovation estimate. Change your score, your experience, the budget or the after-repair value and the numbers below move with them. Nothing is pulled and nothing is saved.
| Item | Fix and flip: 20% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $19,800 (20%) | |
| Loan at closing | $79,200 | |
| Full renovation, rough estimate* | We fund $192,514 | |
| Total loan | $271,714 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($4,076) | |
| Appraisal | Required | |
| Estimated monthly interest | $2,262 at full draw | |
| Cash to close, rough estimate | $47,282 | |
Rough estimates at the list price of $99,000 for a 740 score and 1 completed project. This is not a commitment to lend.
*Every figure on this page is a rough estimate. The renovation budget is a super rough placeholder at $110 per sq ft, not a bid or an inspection; get your own contractor numbers before you offer. Indicative estimate for discussion, not a commitment to lend. Business-purpose loans to investors only; final terms are set at submission. Fix and flip loans are sized on an appraisal and must stay under 75% of after-repair value. 10% down is for experienced investors; first-time flippers put 20% down. Fix and flip fees include administration, documents, legal, draw inspections and servicing. Title, escrow and taxes are not included.
More hard money deals in Detroit All Michigan opportunities Hard money lender in Michigan Fix and flip loans Every live opportunity Price deals in ChatGPT with our app
Cash or hard money only"Property is being sold strictly as-is. Seller will make no repairs or improvements. Cash offers only."
Cash or hard money only"CASH ONLY."
Cash or hard money only"Featuring a functional layout and solid investment upside, this property is being sold as-is and is available to cash buyers only."
Get pre-qualified in one call and write your offer with the financing already lined up.
